The annual report for Malibu Beachwear reported the following transactions affecting stockholders' equity:

a$.$ Purchased $$351,700$ of common stock now held in treasury.

b$.$ Declared cash dividends in the amount of $$260,850.$

c$.$ Paid the dividends in $(b).$

d$.$ Issued $117,000$ new shares of $$0\mathrm{.}10$ par value common shares for $$2$ per share.

e$.$ Closed the Dividends account.

$3.$ Prepare a statement of stockholders' equity, assuming the following opening balances. Net income for the current year was $$287,000.$